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May/June 2004
New
home sales increase 5.8% in February
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Falling mortgage rates fueled a surge in new home sales.
Sales
are up 5.8% over the previous record month that makes
an adjusted annual rate of 1.68 million homes sold accordingly
to U.S. department of Commerce report. The very favorable
factors: Law mortgage rates, healthy income growth and
solid house price appreciation. They continue to invigorate
demand!
Two
regions had these sales increases: The northeast U.S.
went up 12% from last year and the western U.S. went
up 28.5%. These record sales have been keeping the supply
of homes low. This was reported in www.realtor.org.
Southern California
continues to be a top area to invest in real estate for
fun and profits. |